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January 22, 2023
Question

If I loaned someone money and they paid back quickly, do I need to claim the repayment on my taxes

  • January 22, 2023
  • 1 reply
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The loan was for a down payment on a house until their other house sold

1 reply

Employee
January 22, 2023

You don’t report or pay tax on a repayment of a loan. You only report any interest you earned.